Gold and silver prices fall in Delhi; gold ₹1,64,100/10g, silver ₹2,71,700/kg. Profit-booking hits domestic market despite global support.
Gold and silver prices have seen a significant decline in Delhi’s bullion market as traders booked profits after consecutive days of high trading. Despite rising tensions in the Middle East supporting global demand for safe-haven assets, domestic prices have slipped due to profit-taking.
Gold Price Update
On Friday, 24-carat gold (99.9% purity) in Delhi fell by ₹1,100, settling at ₹1,64,100 per 10 grams. This comes after a sharp decline on Thursday, when gold dropped ₹7,600 per 10 grams. The consistent profit-booking by traders contributed to this downward trend in the domestic market, even though global gold prices increased slightly to $5,095.81 per ounce.
Silver Price Update
Silver also experienced a drop in Delhi, falling ₹600 to ₹2,71,700 per kilogram on Friday. Thursday had already seen a steep fall of ₹27,700, indicating strong profit-taking after earlier gains. International silver prices increased by 1.4% to $83.40 per ounce, supported by Middle East tensions, but this had limited effect on domestic rates.
Reasons Behind the Drop (Gold and Silver Prices)
Experts suggest that the recent surge in precious metal prices prompted traders to secure profits. While global demand for safe-haven investments kept international prices firm, domestic markets reacted differently, leading to a temporary slump. The Middle East conflict continues to support international rates, but local market corrections are normal after periods of rapid price increase.
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Investor Insights
Investors are advised to monitor both domestic and international trends before making decisions. While short-term fluctuations are expected, gold and silver remain reliable long-term investment options, especially during periods of global uncertainty.
Gold and Silver Prices Key Takeaways:
Gold fell by ₹1,100 to ₹1,64,100 per 10 grams in Delhi.
Silver dropped ₹600 to ₹2,71,700 per kilogram.
Global gold rose slightly to $5,095.81 per ounce.
International silver increased to $83.40 per ounce.
Profit-booking by traders caused domestic price decline.
Middle East tensions continue to support global demand.
Investors advised to stay informed on market trends.
Gold and silver remain safe-haven assets for long-term investment.
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